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Nonprofiteer
← DOW GREAT WESTERN CREDIT UNION

Form 990 for tax year 2024

Filed by DOW GREAT WESTERN CREDIT UNION.

Totals

Total revenue
$2,181,139
Total expenses
$2,347,036
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,700,397
Investment income
$413,891
Other revenue
$66,851
Total assets, end of year
$47,260,247
Total liabilities, end of year
$43,942,687
Net assets or fund balances, end of year
$3,317,560
Program services expenses (Part IX)
$2,347,036
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,347,036

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Member Loan Interest

    total $1,296,045 · related or exempt $1,296,045 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $404,352 · related or exempt $389,073 · unrelated business $15,279 · excluded $0

  • 3 · Investment income

    total $413,891 · related or exempt $413,891 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $66,851 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $66,851 · personal property $0

  • 6d · Net rental income or loss

    total $66,851 · related or exempt $66,851 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $225,761 · program services $225,761

  • 7 · Other salaries and wages

    total $447,500 · program services $447,500

  • 8 · Pension plan contributions

    total $0 · program services $0

  • 9 · Other employee benefits

    total $72,332 · program services $72,332

  • 10 · Payroll taxes

    total $50,048 · program services $50,048

  • 11g · Fees: other

    total $75,618 · program services $75,618

  • 12 · Advertising and promotion

    total $32,262 · program services $32,262

  • 13 · Office expenses

    total $114,766 · program services $114,766

  • 14 · Information technology

    total $237,575 · program services $237,575

  • 16 · Occupancy

    total $121,260 · program services $121,260

  • 17 · Travel

    total $5,665 · program services $5,665

  • 19 · Conferences, conventions and meetings

    total $6,156 · program services $6,156

  • 20 · Interest

    total $544,007 · program services $544,007

  • 22 · Depreciation, depletion and amortization

    total $106,977 · program services $106,977

  • 23 · Insurance

    total $23,550 · program services $23,550

  • 24a · Other expenses: Association Membership Dues

    total $18,479 · program services $18,479 · management and general $0 · fundraising $0

  • 24b · Other expenses: Provision for Loan Losses

    total $265,080 · program services $265,080 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $410,688 · end of year $253,297

  • 4 · Accounts receivable

    beginning of year $14,649 · end of year $77,626

  • 7 · Other notes and loans receivable

    beginning of year $25,694,657 · end of year $22,510,639

  • 9 · Prepaid expenses and deferred charges

    beginning of year $131,037 · end of year $148,699

  • 10a · Land, buildings and equipment: cost or other basis

    $4,163,766

  • 10b · Land, buildings and equipment: accumulated depreciation

    $680,406

  • 10c · Land, buildings and equipment, net

    beginning of year $3,584,894 · end of year $3,483,360

  • 12 · Investments: other securities

    beginning of year $8,453,751 · end of year $7,965,461

  • 13 · Investments: program-related

    beginning of year $8,372,724 · end of year $12,189,273

  • 15 · Other assets

    beginning of year $750,811 · end of year $631,892

  • 17 · Accounts payable and accrued expenses

    beginning of year $262,889 · end of year $504,595

  • 25 · Other liabilities

    beginning of year $43,850,016 · end of year $43,438,092

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,300,306 · end of year $3,317,560

Mission and programs · 2024

Mission

The credit union provides thrift savings, borrowing and financial services to members of a member owned cooperative financial institution. The credit union provides overall activity; that being financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. Number of members/owners at 12/31/24 was 2,051 with 2,675 loans totaling $22,629,393 and with 4,015 share deposits accounts totaling $43,344,762.

Activities or mission (Part I)

Provides Thrift Savings & Borrowing for member owned financial institution. The credit union provides one overall activity; that being a financial cooperative providing thrift savings, borrowing and other financial services to our members/owners.

  • Regarding members and the member deposit side of the balance sheet, members gained from 2,027 to 2,051. And member deposit accounts decreased to 4,015 and balance decreased to $43,344,762. Debit cards and transactions continued to grow, along with transactions on the credit union's atm. Depositing and check cashing services at the member services counter continued to grow.

    Expenses $2,347,036 · Revenue $2,181,139

  • Loan services with 2,675 loans made for $22,629,393 as well as other services around loans, such as offering mechanical breakdown insurance coverage on auto loans. And offering insurance coverage for members if they are disabled and unable to make their payments. Various types of loans, including home loans were offered, including 1st trust, 2nd trust deed, fixed, and variable rate loans, home equity lines of credit, and credit card loans.

  • Rental income

    Revenue $66,851

As filed on the 2024 return.

Listed in Part VII

  • Paul Kramer

    CEO

    Total calculated
    $273,384
    From this org
    $225,761
    From related orgs
    $0
    Other
    $47,623
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,761
    Bonus
    $3,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $47,623
    Filer's total
    $273,384

  • Stevem McAdams

    Director

    Total calculated
    $0
    Hours/week
    1

  • Art Solis

    Chairperson

    Total calculated
    $0
    Hours/week
    4

  • John Jacobson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Curtis Tong

    Director

    Total calculated
    $0
    Hours/week
    2

  • Sally Siemak

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Noyer

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Parks

    Secretary

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 3
The salary committee approved the top management compensation review at the end of the year every year.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.0
Source object
202543219349308049

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